Founders Rant X 2.0 held its second edition in Lagos, gathering entrepreneurs and business leaders for discussions on the realities of building and sustaining businesses in Nigeria. The event featured insights on leadership, risk management, and team building from speakers including Chude Jideonwo, Wakanow Group CEO Bayo Adedeji, and Peerless Software Global Services CEO Dr. Joachim Adenusi. The initiative, organized by YellowLyfe, focuses on providing a platform for unfiltered discourse on the challenges of entrepreneurship. The event is scheduled to continue in Abuja on September 27, 2026.

ProvidusUnity Bank has expanded its small and medium enterprise capacity-building initiative, now in its sixth cohort across Lagos, Abuja, and Port Harcourt. Partnering with the Enterprise Development Centre of Pan-Atlantic University, the bank has trained over 300 SMEs, focusing on business strategy, financial record-keeping, and governance to help firms become bankable. The programme addresses the structural gaps preventing many of Nigeria’s 40 million MSMEs from accessing institutional finance.

N Seven Nigeria Limited, an investment vehicle of the Tolaram Group, has extended its majority stake in Guinness Nigeria Plc following a sustained share-buying spree on the Nigerian Exchange. The company has invested over N1 billion in recent open-market acquisitions, further solidifying its ownership beyond the 70.9 percent threshold. Recent transactions include the purchase of 400,948 shares at N363.20 per unit on September 7, bringing the total acquisition value since late August to approximately N1.09 billion. This aggressive accumulation underscores Tolaram’s commitment to the brewer’s long-term market value and financial recovery.

Samsung has officially launched the Galaxy Z Fold8 and Galaxy Z Fold8 Ultra in Nigeria, featuring updated hardware and integrated Galaxy AI capabilities. To drive early adoption, the company has introduced a multi-buy promotional offer running until September 18, 2026. Customers purchasing these foldable devices alongside official covers and compatible Samsung Watches are eligible for discounts of 30 percent and 15 percent, respectively. The offer also includes a 24-month warranty, Samsung FlexCare+, and six months of Google AI Pro access.

Nigeria’s total merchandise trade reached N41.44 trillion in the second quarter of 2026, marking a 5.61% year-on-year increase from N39.24 trillion. On a quarter-on-quarter basis, trade grew by 19.13%. Exports were the primary driver of this growth, accounting for 65.20% of the total trade value at N27.02 trillion, a 27.64% increase from the first quarter of 2026.

The Federal High Court in Abuja has sentenced two Bureau De Change (BDC) operators to five years in prison, or a N2 million fine each, for operating without valid licences from the Central Bank of Nigeria (CBN). Justice Obiora Egwuatu delivered the judgment following cases filed by the Economic and Financial Crimes Commission (EFCC) against Isah Sulaiman and Aminu Abdullahi, the latter operating under Ninext Multi-Ventures Ltd. The court rejected an initial plea bargain agreement that proposed a lighter sentence, ruling that it contradicted the Banks and Other Financial Institutions Act of 2020. This ruling marks another step in the ongoing regulatory enforcement to curb unlicensed financial operations and protect the integrity of the foreign exchange market.

The Joint Revenue Board (JRB) has urged revenue authorities to accelerate the use of data and analytics to improve tax compliance and administration in the second year of Nigeria’s tax reform program. Meeting in Kaduna, the Board emphasized that robust data infrastructure is essential for actionable intelligence and better decision-making. The JRB also advocated for the nationwide adoption of the Harmonised Taxes and Levies Law to reduce duplicate collections, noting that many businesses still struggle with the high cost of multiple taxation. Despite the ongoing reforms, recent surveys indicate that overlapping tax demands remain a primary constraint for the Nigerian business community.

Nigerian proptech firm, Vendr.ng, is gaining traction among property managers and estate operators by digitizing manual administrative tasks. The platform provides automated solutions for rent collection, utility vending, and meter management. Users, including residential estates and government facilities, report increased operational efficiency and improved transparency in tracking electricity and water consumption. As estate management evolves, the platform is focusing on user interface upgrades and responsive support to meet growing demand for seamless digital residential services.

The Federal Government is set to commence physical construction on its 1.6 billion dollar Project BRIDGE initiative, a 90,000-kilometre national fibre-optic network aimed at expanding broadband connectivity by 2030. To meet the project deadline, contractors must maintain an aggressive deployment rate of up to 90 kilometres of fibre daily. The project, which has secured support from the World Bank, AfDB, EBRD, and BADEA, will be managed through a Special Purpose Vehicle with significant private sector ownership. While the initiative promises to boost digital infrastructure and lower broadband costs, it faces substantial risks, including severe security threats from infrastructure vandalism, right-of-way challenges, and macroeconomic volatility.

The Dangote Petroleum Refinery is set to launch its highly anticipated initial public offering on September 14, 2026. The company is seeking to raise approximately N2.15 trillion by offering 4.1 billion ordinary shares at N525 each. This capital raise, which includes a 15 percent greenshoe option, aims to fund an expansion project to double the refinery’s capacity to 1.4 million barrels per day. The listing is viewed as a landmark test for investor appetite in the Nigerian capital market.

Following its restoration to the FTSE Frontier Market index, the Securities and Exchange Commission is now actively seeking to regain inclusion in MSCI and JPMorgan global benchmarks. This move aims to further attract foreign capital, leveraging improved liquidity and currency reforms. The SEC Director-General, Emomotimi Agama, cited current market growth as a strong foundation for these efforts. Nigeria’s previous exclusions were largely due to persistent foreign-exchange shortages and capital repatriation difficulties, which have since been addressed by recent Central Bank policy overhauls and a significant rise in external reserves to $54 billion.

Professor Albert Alos, the founding Dean of Lagos Business School and pioneer Vice Chancellor of Pan-Atlantic University, has passed away. A Spanish engineer who became a Nigerian citizen, Alos arrived in 1967 and dedicated nearly six decades to building Nigeria’s higher education and business management landscape. His legacy includes transformative work at the universities of Ibadan, Lagos, and Ife, as well as his commitment to ethical leadership and professional excellence. He was recently honoured with the launch of the Professor Albert Alos Endowed Chair in Strategic Management at LBS.

The Investment in Digital and Creative Enterprises (iDICE) programme has launched in the Southeast, targeting Abia, Anambra, Ebonyi, Enugu, and Imo states. Delivered in partnership with Del-York Group, the initiative aims to bridge the gap between youth training and sustainable employment in sectors such as software development, digital marketing, and industrial design. Experts emphasize that the project’s success depends on moving beyond simple certification toward verifiable job placements, enterprise creation, and integration with the region’s existing industrial clusters. The framework stresses the need for outcome-based measurement, diaspora involvement, and infrastructure support to ensure skills lead directly to measurable economic productivity.

Intra-African trade saw a 5.4 percent growth in 2024, reaching 206.6 billion dollars, according to the Afreximbank Africa in Figures 2025 report. To sustain this momentum, the Intra-African Trade Fair (IATF) remains a pivotal platform for connecting businesses and facilitating cross-border investment. Following the success of the 2025 edition in Algiers, which recorded 50 billion dollars in deals, Lagos has been selected to host IATF 2027. The event aims to further industrialization and bridge market information gaps for African SMEs.

Delta State Governor Sheriff Oborevwori has announced a series of economic initiatives aimed at mitigating current hardship and boosting grassroots purchasing power. The strategy focuses on targeted empowerment programmes, large-scale infrastructure development, and localized procurement for school renovations to stimulate community-level economic activity. Additionally, the administration is moving to institutionalize a 13th-month salary for civil servants and is pursuing agricultural investments to enhance local productivity.

Cross River State Governor Bassey Edet Otu has signed three new bills into law, including a 2026 supplementary budget. The legislation comprises the Social Investment and Protection Law, which establishes an agency for vulnerable residents; the Health Quackery Prohibition Law, aimed at regulating medical practice; and the 2026 Supplementary Appropriation Law. The latter increases the state’s total budget to approximately N963.07 billion, up from the original N961.62 billion, to account for unforeseen economic developments and improved revenue allocations.

Minister of Information and National Orientation, Mohammed Idris, has dismissed calls for the restoration of fuel subsidies as unpatriotic and detrimental to Nigeria’s fiscal stability. Speaking in Calabar, Idris warned that reversing reform policies would weaken investor confidence and undermine long-term development gains. He emphasized that the government’s focus remains on accelerating the benefits of current reforms rather than dismantling them.

Increased reliance on a narrow set of software components and third-party technology providers is creating systemic cybersecurity risks for Nigerian institutions. When multiple sectors—including government, finance, and telecommunications—depend on the same vendors, a single vulnerability can cause industry-wide disruption. Experts warn that organizations must move beyond viewing vulnerability management as an individual internal task. Instead, leaders are urged to prioritize vendor diversification, maintain rigorous asset inventories, and enhance transparency regarding third-party software dependencies. This shift aligns with global standards like the EU’s Digital Operational Resilience Act, emphasizing that national digital resilience requires proactive mapping of shared infrastructure risks.

Rising insecurity in the Borgu Local Government Area of Niger State is forcing residents to flee across the border into the Republic of Benin, severely disrupting agricultural production and cross-border trade. Murtala Haliru Dantoro, a political representative for the region, reported that persistent kidnappings and attacks have rendered farmland inaccessible and crippled local commerce. He has urged the Federal Government to shift from reactive measures to proactive, permanent security deployments to prevent further humanitarian and economic deterioration in this critical border corridor.